FGP Global Equity Fund
The investment goal of the FGP Global Equity strategy is to deliver above-average risk-adjusted returns over the long term while protecting our clients’ capital. We employ a bottom-up approach identifying quality companies through our internal research process.
|Low Downside Capture||Very Low Standard Deviation||Strong Performance
During Volatile Periods
We are focused on owning great companies that can grow our clients’ capital at an above average rate of return for the long term. We exercise patience in waiting for the right opportunities to invest in businesses. Capital preservation is at the forefront in making our investment decisions because we focus on companies with low earnings variability.
We believe that superior investment returns are achieved by taking a long term, bottom-up, value-oriented approach to investments based on detailed fundamental research and analysis. Our proven philosophy revolves around two longstanding core concepts:
• Focus on key business drivers (competitive advantage, pricing, cost structure, growth etc.) and the predictability of those drivers
• Determine realistic growth potential of the business longer term
• Assess business performance in last downturn and subsequent changes to have realistic expectations
• Analyze true free cash flow conversion
• Assess capital allocation history and balance sheet strength
• Review track record on governance and shareholder alignment
Disciplined on Valuation
• Search for businesses that can grow faster than the market and are trading at a lower valuation than the market
• All companies are assessed on a 10 year discounted cash flow basis using an 8% discount rate and a zero terminal growth to determine the intrinsic value
• Our intrinsic value assessments are then checked against each company’s historical valuation as well as the broader market as an additional check
You can read full details about the FGP Global Equity Fund, the FGP International Equity Fund, and the FGP Global Smaller Companies Fund by clicking on the images below.
|FGP Global Equity Fund||FGP International Equity Fund||FGP Global Smaller Companies Fund|